Insider Buying: Norfolk Southern Co. (NYSE:NSC) Director Acquires 607 Shares of Stock

Norfolk Southern Co. (NYSE:NSC) Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $250.13 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The business’s 50 day simple moving average is $248.95 and its two-hundred day simple moving average is $249.15. The stock has a market capitalization of $56.59 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts forecast that Norfolk Southern Co. will post 13.07 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.71%.

Wall Street Analysts Forecast Growth

NSC has been the subject of several research reports. Bank of America increased their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Citigroup boosted their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Susquehanna reduced their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Financial Partners Inc increased its position in shares of Norfolk Southern by 1.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 3,773 shares of the railroad operator’s stock valued at $886,000 after buying an additional 69 shares during the period. Redmond Asset Management LLC grew its holdings in shares of Norfolk Southern by 1,655.2% during the 4th quarter. Redmond Asset Management LLC now owns 27,399 shares of the railroad operator’s stock worth $6,431,000 after acquiring an additional 25,838 shares during the period. Bradley Foster & Sargent Inc. CT raised its position in shares of Norfolk Southern by 0.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 19,942 shares of the railroad operator’s stock worth $4,680,000 after acquiring an additional 67 shares in the last quarter. Paradigm Asset Management Co. LLC grew its stake in Norfolk Southern by 600.0% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 5,600 shares of the railroad operator’s stock worth $1,314,000 after purchasing an additional 4,800 shares during the period. Finally, Cassaday & Co Wealth Management LLC raised its holdings in Norfolk Southern by 10.7% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 1,065 shares of the railroad operator’s stock worth $250,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.